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The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. As of today (2026-07-24), Granite Real Estate Investment Trust's share price is €60.67.
Granite Real Estate Investment Trust's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was €3.57. Therefore, Granite Real Estate Investment Trust's PE Ratio without NRI for today is 17.01.
During the past 13 years, Granite Real Estate Investment Trust's highest PE Ratio without NRI was 31.55. The lowest was 11.03. And the median was 18.33.
Granite Real Estate Investment Trust (FRA:4I70) PE Ratio without NRI Explanation
The PE Ratio can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.
In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio is positive. Also for stocks with the same PE Ratio, the one with faster growth business is more attractive.
If a company loses money, the PE Ratio becomes meaningless.
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio divided by the growth ratio. He thinks a company with a PE Ratio equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio of 20, instead of a company growing 10% a year with a PE Ratio of 10.
Because the PE Ratio measures how long it takes to earn back the price you pay, the PE Ratio can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.
Investors need to be aware that the PE Ratio can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio.
Granite Real Estate Investment Trust PE Ratio without NRI Related Terms
Granite Real Estate Investment Trust PE Ratio without NRI Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Granite Real Estate Investment Trust PE Ratio without NRI Chart
FRA:4I70 vs PLD, PSA, EXR: PE Ratio without NRI Comparison
For the REIT - Industrial subindustry, Granite Real Estate Investment Trust's PE Ratio without NRI, along with its competitors' market caps and PE Ratio without NRI data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Granite Real Estate Investment Trust PE Ratio without NRI vs REITs Industry
For the REITs industry and Real Estate sector, Granite Real Estate Investment Trust's PE Ratio without NRI distribution charts can be found below:
* The bar in red indicates where Granite Real Estate Investment Trust's PE Ratio without NRI falls into.
Granite Real Estate Investment Trust PE Ratio without NRI Calculation
The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. Regular PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.
Granite Real Estate Investment Trust's Share Price of today is €60.67.
Granite Real Estate Investment Trust's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €3.57.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
There are at least three kinds of PE Ratios used by different investors. They are Trailing Twelve Month PE Ratio, Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio based on inflation-adjusted normalized PE Ratio is called Shiller PE Ratio, after Yale professor Robert Shiller.
In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.
In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months.
For Forward PE Ratio, the earnings are the expected earnings for the next twelve months.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.
Granite Real Estate Investment Trust (FRA:4I70) has a PE Ratio without NRI of 17.01 as of Jul. 24, 2026. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on Granite Real Estate Investment Trust and its competitors. This is near median its historical median of 18.33. Over the past decade, Granite Real Estate Investment Trust's PE Ratio without NRI has ranged from 11.03 to 31.55. According to the industry distribution chart, Granite Real Estate Investment Trust ranks #454 out of 752 companies in the REITs industry, placing it in the top 60.4%.
Is Granite Real Estate Investment Trust's PE Ratio without NRI too high?
Granite Real Estate Investment Trust's current PE Ratio without NRI of 17.01 is near median its 10-year median of 18.33. Over the past 10 years, this metric has ranged from a low of 11.03 to a high of 31.55. The REITs industry median PE Ratio without NRI is 14.20. Granite Real Estate Investment Trust's value of 17.01 is 19.8% above this industry median. Based on the distribution chart, Granite Real Estate Investment Trust ranks #454 out of 752 companies in the REITs industry, which is below the industry midpoint. Overall, Granite Real Estate Investment Trust has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Granite Real Estate Investment Trust's PE Ratio without NRI compare to PLD and PSA?
According to the REITs industry distribution chart, Granite Real Estate Investment Trust ranks #454 out of 752 companies for PE Ratio without NRI. This places Granite Real Estate Investment Trust in the lower half of its industry. The industry median PE Ratio without NRI is 14.20. Granite Real Estate Investment Trust's value of 17.01 is 19.8% above this benchmark. Historically, Granite Real Estate Investment Trust's own PE Ratio without NRI has ranged from 11.03 to 31.55 over the past decade. While the company's 10-year median is 18.33 vs. the industry median of 14.20, Granite Real Estate Investment Trust has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PE Ratio without NRI for a REITs company?
The median PE Ratio without NRI among REITs companies is 14.20, based on 752 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio without NRI significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio without NRI should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Granite Real Estate Investment Trust's current PE Ratio without NRI of 17.01 is 19.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PE Ratio without NRI mean?
A high PE Ratio without NRI can signal that a stock is expensive relative to its fundamentals. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on Granite Real Estate Investment Trust and its competitors. For the REITs industry, the median PE Ratio without NRI is 14.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Granite Real Estate Investment Trust's current PE Ratio without NRI is 17.01, which is near median its own 10-year median of 18.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Granite Real Estate Investment Trust stock overvalued right now?
Granite Real Estate Investment Trust (FRA:4I70) has a current PE Ratio without NRI of 17.01. The stock's GF Value™ is €56.20, compared to a current price of €60.67 — trading 8% above its estimated fair value. The current PE Ratio without NRI is 17.01, which is near median its 10-year median of 18.33 and 19.8% above the REITs industry median of 14.20. Granite Real Estate Investment Trust's overall GF Score™ is 76/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio without NRI calculated?
PE Ratio without NRI is calculated from a company's financial statements. For Granite Real Estate Investment Trust (FRA:4I70), the current PE Ratio without NRI is 17.01 as of Jul. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Granite Real Estate Investment Trust (FRA:4I70) Overvalued in 2026?
Based on GuruFocus' analysis, Granite Real Estate Investment Trust stock appears to be overvalued.
The current stock price of €60.67 is trading 8% above its estimated GF Value™ of €56.20.
Key valuation signals for FRA:4I70:
PE Ratio without NRI: 17.01 (near median its 10-year median of 18.33)
GF Value™: €56.20 vs. price of €60.67 (8% above fair value)
Industry Position: 19.8% above the REITs median (#454 of 752)
No single metric tells the full story. See the FRA:4I70 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Granite Real Estate Investment Trust Business Description
Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, ownership, and management of logistics, warehouse, and industrial properties in North America and Europe. Granite's portfolio comprises various manufacturing, corporate office, warehouse, logistics, and product engineering facilities. The vast majority of the company's assets are logistics and distribution warehouses and multipurpose buildings, split fairly evenly amongst Canadian, Austrian, and U.S. locations. Granite derives nearly all of its revenue in the form of rental income from its properties. The company's tenant is Magna International, an automotive parts and systems manufacturer, which accounts for the majority of Granite's lease income.
76GF Score
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